If your balance is
below 30% of your credit limit, it will improve your score.

When you review your
credit report, you will see a list of things that are lowering your credit
score. Work on those things to raise your score.

The reasons your score
is not perfect are listed in order, according to the impact they have on
your score. Fixing the first two will raise your score the fastest.

Credit analysis
software is available to some lenders. It will tell you exactly
what to do to raise your scores – it also tells you how many points your
scores will go up.

Things
NOT to do:

Do not close
accounts. The
longer your accounts are open, the higher your score will be.

Do not pay off old
collection accounts or old charge off accounts. Paying off an
account that no one is actively trying to collect will change the “date of
last activity” from the old date to the current date, and lower your
score, even though it is now paid off.

NEVER pay anyone to “repair”
your credit. They are only ripping you off! You can fix errors on
your report by yourself – for free. Use a lender who will
show you how, and who will help you – for free.

Getting
a loan approved is easy - if you know what to do. The Mortgage Experts
know what to do!!!

Every
week, I receive dozens of emails telling me it is my "last chance" to
do something. The one thing that all of these "last
chance" emails have in common is the urgency with which I must spend
my money.

In
the mortgage industry, "last chance" marketing is very common.
This is your last chance to lock in a low interest rate, your last
chance to refinance, your last chance to have a low down payment, and your last
chance to buy a house before they're all gone and you end up living under
a bridge.

Guess
what? It's never your last chance. Things certainly change all the
time - sometimes for the better and sometimes for the worse, but it's never
your last chance to get a mortgage.

When you
get a mortgage, the best way to think about it is that you will be stuck with
it for the next 30 years. If you're happy with that, then get it.
If you're not happy with that, then don't get it. Either way, it's never
your last chance.

Want
to see what your options are for a mortgage? Give us a call and we'll
explain how it all works.

Getting
a loan approved is easy - if you know what to do. The Mortgage Experts
know what to do!!!

Why
are the credit scores you get from the credit bureaus yourself often quite
different than the scores used by mortgage lenders?

The
answer is simple. The scores you get yourself are generally
VantageScores, which are based on a scoring range of 501-990. The
scores that mortgage lenders use are FICO scores, which are based on a scoring
range of 350-850.

The
three credit bureaus (Experian, TransUnion, and Equifax) got together about
five years ago and invented the VantageScore, hoping to get a bigger piece of
the multi-billion dollar credit scoring market than they already had.
Lenders said, "Forget it - we're happy with the FICO
scores."

The
bottom line is that you are always going to have a higher score if you are
looking at a VantageScore credit report rather than a FICO score credit
report. It can be very misleading to consumers, but that's the way it
works.

Getting
a loan approved is easy - if you know what to do. The Mortgage Experts
know what to do!!!

FHA mortgage insurance premiums have increased for
all loans that have FHA case numbers dated April 1 or later. The increase
is very slight: just 0.1% annually, or a bit less than $17 a month for a
$200,000 loan.

A
bigger change occurs on June 3. For all loans with FHA case
numbers after that date, mortgage insurance lasts for the life of the loan,
regardless of the amount of equity that a borrower has in the property.
Although this change is dramatic, keep in mind that FHA mortgage insurance is
based on the current loan balance, and adjusts down every year. Even
though the mortgage insurance will last for the entire loan term, it will
decrease each year.

These
changes will have very little effect on the housing industry. The small
monthly increase in housing payment is negligible. However, the
changes could have an effect on your individual production if you tell
your buyers that FHA loans are terrible. FHA loans are easier to qualify
for than conventional loans (that is the whole purpose of the FHA loan program
- to get more people into houses). If your buyers can only qualify for an
FHA loan, and you have told them to stay away from FHA loans, they are probably
going to use another real estate agent. We see this happen all the time.

When
we pre-approve a buyer, we always price the loan as a conventional loan and as
an FHA loan. We recommend that the buyer get whichever loan is cheaper
for them. For buyers who only have the minimum amount down (3.5% of the
purchase price) and whose credit scores are lower than about 700, FHA will
continue to be the cheapest option.

Don't
fall for the hype about how bad FHA loans are going to be. It's just
marketing by lenders who aren't approved to sell FHA loans.

Getting
a loan approved is easy - if you know what to do. The Mortgage Experts
know what to do!!!

Low Interest Rates, Low Closing Costs, and our loans close!

2011-2015 FIVE STAR Mortgage Professional Award Winners

Here's What People Are Saying About Us

"I always turn to Chris and Debbie to secure mortgage financing for my buyers because I rely on their unending commitment to customer service and their vast knowledge when it comes to mortgages. I recommend them to anyone - without even a moment's hesitation - they are simply amazing."

"Every transaction that Debbie and Chris have been involved with has closed on time with no issues. It’s no wonder 5280 Magazine has designated them an award winner. The buyers have been pleased with their professionalism and their willingness to go the extra mile. They are patient and willing to work with potential buyers who have credit issues. A pleasure to work with."

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